In the prevailing uncertainty in the cryptocurrency market, $SUI is witnessing

A significant price correction, as evidenced by a 23.25% loss over the past thirty days. During this period, the popular altcoin, which is one of the leading major currencies in the current market cycle, traded at its lowest point of $2.35, down 56.44% from its all-time high of $5.35 in January.

Amid this chaos, prominent market expert known as Pla,nD on X stated that the ongoing formation of a bullish double pattern indicates a massive price rise coming in the market of $SUI .

Technical analysis paves the way for a sharp rise in SUI's price - Analyst

In a post on X dated June 27, Pla,nD shared an interesting price analysis revealing the formation of two bullish patterns - the bullish flag and the inverse head and shoulders (H&S) - on the daily chart of #SUI . Both patterns currently form a convergence of technical indicators, suggesting that the altcoin is preparing for a significant price rise as the second half of 2025 approaches.

The inverse head and shoulders pattern is a popular bullish reversal pattern. Amid SUI's price correction in the first quarter, the altcoin formed the left shoulder at $2.42 in February, the head at $1.74 in April, and the recent price bounce from $2.62 seems to have formed the right shoulder. Pl,anD describes the $2.62 level as a crucial support level in this bullish pattern, which includes the potential for a price breakout.

Studying the technical analysis by Pla,nD, the neckline for the inverse head and shoulders pattern is currently at $4.25, and its breakout confirms the bullish price reversal with a target price set at $10.74.

At the same time, the bullish flag pattern is a common chart pattern characterized by a strong upward price movement (flagpole), followed by a downward channel (flag) preceding a price breakout equal to the length of the flagpole. Based on the analysis provided by Pl,anD, previous bullish flags on the $SUI stock chart have successfully led to massive price increases as seen in 2023 and 2024.

It is noteworthy that SUI's price movement upward from mid-2024 to its all-time high in January, followed by a downward movement since then, represents the latest bullish flag. Based on the initial price rise (flagpole), Pl,anD provides a long-term price target for SUI at $27, representing a potential gain of 10 times the current market prices.

Overview of SUI stock price

At the time of writing this report, SUI is trading at $2.69 after a 2.23% increase the previous day. Despite its struggles last month, the altcoin still enjoys price gains of 226.33% over the past year, making it one of the best-performing cryptocurrencies in the current market cycle.

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